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Economic Damages: Work-life Expectancy v. Retirement Age Adding years onto the end of earnings loss calculations

Economic Damages: Work-life Expectancy v. Retirement Age Adding years onto the end of earnings loss calculations

Each month The Knowles Group will present a distinct economic component or inactive case highlights of a disputed variable in economic damage analysis.

Economists are tasked with determining work-life expectancy for the plaintiff in all matters concerning loss of earnings. When forensic economists are asked to forecast, we avoid speculation and reliance on plaintiff’s belief or intention. We instead lean on objective data in the form of historical indices and survey tables to help form assumptions about the future.

An interesting case example I faced recently included the assertion from my counterpart that the 60-year-old plaintiff working in the construction trades at the time of the incident would have continued to work until the age of 75 had the accident not occurred.

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Welcome to Our Blog

Welcome to Our Blog

Welcome to The Knowles Group blog!  Check back often for articles about forensic economics and litigation consulting. Have a question or want to get in touch about a case?  Contact me.

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Peddling Present Value

Peddling Present Value

Whether you realize it or not, you’re using economics almost everyday. And while you may have very few occasions (if any) where you’ve misplaced your calculator and that long division actually comes in handy, economics plays an important part of our lives. My wife and I were having a conversation about shopping at Costco, and what items are the most economically advantageous to purchase at certain times in terms of the present value of money. At the conclusion of this conversation, I decided to shed some light on the subject.

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